Income-Tax Department Conducts Survey at Truecaller India Offices Over Tax Evasion Allegations

The Income-Tax Department conducted a survey at Truecaller's offices in India, investigating tax evasion allegations. The Swedish caller ID company is cooperating with the authorities. The operation aimed to collect detailed information and examine documents related to tax evasion, including transfer pricing issues. Initially described as a search, the operation was clarified as a survey, focusing solely on business premises.

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Truecaller, headquartered in Stockholm, has offices in Bengaluru, Mumbai, and Gurugram. The company stated that Indian tax officials visited their India offices on 7 November 2024. "Truecaller are currently assisting the authorities to the full extent at our offices," the company said. They are awaiting official communication from the tax department and emphasised their willingness to cooperate fully with the authorities.

Truecaller's Transparency and Tax Compliance

The company highlighted its transparency as a publicly-listed entity. Truecaller mentioned that it is not under any special tax investigation in India beyond regular audits. "Truecallers group financial statements have always received an unqualified audit opinion," they stated. The company assured that all taxes due in India and other regions have been paid.

Truecaller explained its transfer pricing policy aligns with international standards. This ensures compliance with both Swedish and Indian tax laws. The policy undergoes continuous independent reviews to meet legal requirements in both countries. Truecaller aims to pay taxes correctly from both perspectives.

Global Reach of Truecaller

According to Truecaller's website, they have 425 million monthly active users worldwide on Android and iOS platforms. These users rely on the service to identify numbers and block spam calls effectively.

In their public statement, Truecaller noted that such surveys are not uncommon practices. They reiterated their commitment to cooperating fully with relevant authorities during this process.

The company's operations remain transparent, with no ongoing tax investigations outside routine audits. Truecaller continues to maintain its financial integrity through consistent compliance with international tax standards.